Offshore life reinsurance has expanded rapidly, especially in Bermuda and Cayman, which have become major hubs for U.S. life insurers seeking diversified operating structures. Since 2017, insurers have ceded about $800 billion in life and annuity reserves to offshore reinsurers, driven by interest rate pressures and the long‑term nature of these liabilities. Many life groups are establishing affiliated reinsurers in these jurisdictions to enhance flexibility, manage capital efficiently and strengthen resilience. This trend reflects a broader effort to future‑proof the offshore life reinsurance sector.

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